How to view existing 1099 activity:

  1. Run a 1099 Activity Report in Accounts Payable Reports, Vendor Reports.
  2. Run a query for all activity over the 1099 box minimums for all vendors during the last year. Include the 1099 box on the Output tab.
  3. Compare the amounts on the report and query to make sure all applicable activity has been marked as 1099 activity .
 

How to correct 1099 activity:

  1. If there are vendors with activity above the box minimums that do not appear on the 1099 Activity Report, adjust the amounts on the Vendor record.
  2. Once the 1099 amounts are correct on all vendor records, exit and sign out of the program and sign back in.
  3. Review all information that prints to the 1099 Activity Report
  4. After year-end, when all information is confirmed, print your 1099s.
 

How to configure the vendor to track 1099 activity automatically

Set up a vendor as a 1099 vendor with a default 1099 distribution which will be automatically entered on each invoice.
Once the default 1099 distribution has been set up on the vendor record, all future invoices will be distributed to the specified 1099 box. The box number is only a default and can be changed or removed manually on each invoice.

For more information on tracking and correcting 1099 activity in Accounts Payable, refer to the The Financial Edge End of Year Guide. For more information on 1099-MISC forms, due dates, box minimums, and requirements, refer to the 1099-MISC section of the Internal Revenue Service website.